Daily foreign exchange rates for our top 10 currencies & Update #forex #Vancouver October 5, 2020


VBCE Daily Foreign Exchange Update for Monday, Oct. 5, 2020

USDCAD spot rate: 1.3265 - 1.3270 (as at 8:17am PST)

Ranges:

Asia:

1.3269

to

1.3294

Europe:

1.3260

To

1.3284

North America:

1.3260

to

1.3272

Technical Support / Resistance:

S2

S1

R1

R2

1.3200

1.3247

1.3316

1.3420

Key Economic Data Releases:

- U.S. markit services PMI:54.6 (exp 54.6 / prev 54.6)

- U.S. ISM services PMI:57.8 (exp 56.3 / prev 56.9)

Event Calendar:

Date

Canada

U.S.A.

Oct 6

Oct 7

Oct 8

Oct 9

Int'l merchandise trade

Ivey PMI

BOC Macklem speech

Net employment change, unemployment rate

Trade balance

FOMC minutes

Jobless claims

U.S. equities followed global stocks higher on optimism over economic stimulus and that President Donald Trump may soon leave the hospital. Treasury yields rose and the dollar weakened. The S&P 500, Nasdaq Composite and Dow Jones Industrial Average all rebounded from Friday's swoon in the wake of Trump's coronavirus disclosure. Fiscal stimulus continues to be a wild card for the market, and uncertainty around the health of the president certainly looms large. So while there's a lot of noise out there, experienced traders may find bullish opportunities. Consumer companies and banks led a broad advance among European stocks. Equities in Asia notched gains, while crude oil rebounded from a three-week low. White House Chief of Staff Mark Meadows said a decision on Trump's release from the hospital will be made after consultations with medical staff Monday morning. But Trump's condition remains clouded by confusion, with the president's effort to show strength contradicted by conflicting accounts from his doctors. On the stimulus front, Trump tweeted from the hospital that a deal needs to get done. House Speaker Nancy Pelosi was optimistic on Friday that a bipartisan stimulus bill can be done, and said his diagnosis "kind of changes the dynamic." Elsewhere in markets, the Taiwan dollar closed at the strongest level since 2011 amid speculation the local central bank will loosen its grip on the rallying currency. Currently, the TSX is up 0.73% and the DJIA is up 1.35%. EURCAD is up 0.31% trading between 1.5558 and 1.5649. GBPCAD is up 0.01% trading between 1.7130 and 1.7231. JPYCAD is down 0.65% trading between 0.01254 and 0.01263. Gold is up 0.82% trading between $1,886 - $1,918USD/oz while silver is up 2.66% trading between $23.67 - $24.51. Oil (WTI crude) is up 5.99% trading between $37.30 - $39.45.

Sources: Reuters, Bloomberg, FXStreet, RBC Capital Markets, Bank of Canada, U.S. Federal Reserve, CNBC, Forexlive, CME Group

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The information and opinions contained herein are gathered from sources which are thought to be reliable but the reader should not assume that the information and opinions are official or final. VBCE makes no warranty concerning the accuracy of the information and opinions, and accepts no liability for the consequences of any actions taken on the basis of the information and opinions provided. The content is for general information only and does not constitute in anyway giving financial advice.